Product Description

A beautifully produced coffee-table book that is also solid history by a renowned financial expert, Charles R. Geisst's 100 YEARS OF WALL STREET is a story of amazing excess: outlandish as well as brilliant financial players, dizzying swings in the country's fortunes, great triumphs followed by breathtaking disasters, and periods of sober statesmanship followed by untrammeled greed. Geisst goes behind the scenes to dramatize Wall Street's growth from unregulated gambling center to mainspring of the U.S. economy. His hilarious anecdotes, incisive analysis and coupling of financial with political stories provides a unique history of the American century. For the casual investor or the expert, 100 YEARS OF WALL STREET is the essential guide to how America really works.

Product Details

• Amazon Sales Rank: #1109298 in Books
• Published on: 1999-10-01
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 256 pages

Amazon.co.uk Review
For those who believe the internet-share explosion of the late 1990s is a once-in-a-lifetime opportunity, Charles R. Geisst in his 100 Years of Wall Street offers this perspective: it has all happened before. The halcyon days of the 1900s, 1920s and 1960s in the United States always drew innocents to market, much to their chagrin when the market eventually came crashing down in early 1900s, the 30s and the 70s.

For those who have chanted, "this time will be different", history suggests otherwise. But the good news is that the market always recovers to new, higher levels. The book is not a dry, statistical tome covering market trends, dips and recoveries. Instead, Geisst provides readers with fascinating insights into personalities as well as the common mood during market swoons. The author has unearthed many fascinating photographs and historical nuggets which bring to life advances in stock market technology and trends. The 177-page book is vividly illustrated with choice photographs.

While it covers the entire century, most focus is placed on the early days. During the 1900s, Geisst says, "America was in a buoyant mood". Andrew Carnegie had just sold his Carnegie Steel company to JP Morgan, one of Wall Street's wealthiest financiers. A panic ensued over trading in the newly formed US Steel. Nevertheless, the market recovered quickly and Morgan went on to forge other big companies, such as American Telephone and Telegraph. A second market air pocket was hit in 1907, while a full-blown collapse was averted due to quick thinking action by JP Morgan and the big banks of the time. This is reminiscent of the collective actions of the big US banks to avoid a depression after the collapse of the US hedge fund, Long-Term Capital Management, 90 years later.

Geisst, who previously authored Wall Street: A History, along with 10 other books, is both an historian and an investment analyst. He brings historical curiosity along with a keen understanding of what makes it relevant to his work today.

100 Years of Wall Street is an easy read and would be a great gift for those who have spent a lifetime investing, or those who have benefited from the boom of the last few years. --Bruce McWilliams

Review
'Either of these two attractive, slightly oversize volumes could be suitably displayed by anyone fascinated by the worlds of business and investing. Moreover, these two books will be an absolute necessity for library reference shelves.' 'Filled with more than 150 photographs and illustrations interspersed with quotes and anecdotes and colorful storytelling, Geisst's chronology vividly captures Wall Street's most recent 100 years.' (Booklist )

Decade-by-decade chronicle of events on the Street, with more than 150 illustratiions. (Associated Press )

From the Publisher
A book that celebrates Wall Street's fascination and power.
The greedy, the hopeful, and the rich have all experienced success and ruin along Wall Street, so a book that celebrates its fascination and power should be welcomed. Proffesor Geisst's narrative leads the reader from the very beggining of trading techniques in 1790 right up to the current turbulence of the Internet and e-commerce frenzy. The author, Professor of Finance at Manhattan College, delves into his story with relish. Instead of re-hashing the booms and busts of the last 100 years, Geisst shows us glimpses of the deals, personalities and con-men, without neglecting the growing attraction and value that Wall Street eventually held for the American middle classes.

The names crop up like a Who's Who of the century: Peter Stuyvesant, John D. Rockefeller and Cornelias Vanderbilt, even - somewhat incongruously - old fashioned wire houses, Geisst's book also serves as an economic history of the US, as well as testament to the considerable powers of salesmanship.

BUSINESS AGE - Jan 2000